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Translated by
Cassidy STEPHENS
Published
Sep 28, 2022
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Camaïeu liquidated, 2,600 jobs cut

Translated by
Cassidy STEPHENS
Published
Sep 28, 2022

Major disruption in the French fashion industry. The fate of the 2,600 Camaïeu employees is now known. On September 28, after three hours of discussions, the commercial court in Lille decided to put the women's fashion chain, which had been placed in receivership last August, into compulsory liquidation, announced the CFDT. The 508 shops will close on Saturday evening and all employees will be made redundant by the end of October. The continuity plan outlined by its shareholder since 2020, Hermione People & Brands, has not convinced.


Camaïeu


Having to find financing to maintain the chain's activity, HPB, called on the State for help this week. The shareholder asked for urgent financial support of 48 million euros out of a total needed amount, evaluated at 80 million euros. A request judged unrealistic by Bercy. HPB is also the owner of Go Sport, Gap France, La Grande Récré and Galeries Lafayette franchises among others.

Facing the serious cash flow problem, the court preferred to stop the proceedings. At the end of the hearing, the CFDT described the situation as "a huge mess".

On September 28, the Camaïeu website is still online, but no longer accepts transactions. It is written on the homepage: "We are temporarily forced to stop orders in order to guarantee a sufficient quality of service".

The assets of the brand will therefore be put up for sale separately during the liquidation procedure, be it the brand name, the network of shops, the stocks or the logistics site. 

In the course of the call for proposals launched by the receivers this summer, two global takeover offers were submitted, but the two funds in question, Hilco Capital and Gordon Brothers, have since withdrawn their offer.

HPB's recovery plan included the closure of 208 shops and the loss of around 500 jobs.

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